Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Mike Maloney: Data Screams “Recession Is Here!” (Video)

  by    1   5

Peter Schiff has been saying for months that the US is probably already in a recession. In fact, during his April 4 podcast, Peter made the case that the “very massive recession,” Donald Trump predicted has already begun (Scroll down to listen.):

Everybody is saying he is nuts because the economy is great. Look at the numbers. The numbers tell a different story. And I believe that Trump is wrong. I don’t think we’re headed for a massive recession. I think we’re already in a massive recession.”

Mike Maloney agrees with Peter, and he recently released a video that highlights four sets of data showing the “robust” economic recovery was all smoke and mirrors created by the Federal Reserve, and the US economy is likely already in recession:

I have a feeling that when the Federal Reserve, and the people who put all this data together, when they finally declare a recession, we’re going to find out that we’re already in a recession – right now.”

Maloney starts out by unmasking the phony recovery:

It hasn’t been a very healthy economic recovery at all, mostly because it hasn’t been a real economic recovery. It was a smoke and mirrors thing done by Ben Bernanke where he made a gift to the banks of a whole bunch of base currency that sits on their balance sheets and pumps up the stock markets, but it doesn’t flow down to Main Street.”

Download Free: SchiffGold’s Guide To Tax-Free Gold & Silver Buying

Maloney then makes his case by analyzing data from the Federal Reserve Bank of St. Louis’ economic research division. This is data the mainstream has completely ignored.

The first graph shows the Industrial Production Index. It peaked in 2007, right before the crash. After the downturn, it barely recovered to its previous level. More striking, it has been falling since November 2014. That was when Fed Chair Janet Yellen began turning off quantitative easing.

The Second chart Maloney looks at is manufacturing sales. It essentially mirrors industrial production, and has been falling since 2014.

Maloney then turns to Rail Freight Carloads. This measures the amount of freight moving across the country. It was generally steady at 1.4 ton-miles until the crisis of 2008. After the crash, it never returned to previous levels. And like industrial production and manufacturing sales, it has been falling since late 2014:

A real measurement of economic activity in any country is how much freight is being sent back and forth across the country. That’s the stuff that you’re going to be selling…Since December 2014 it has fallen off a cliff, and it’s now down to levels that it was at at the very bottom of the global economic crisis. And so that, to me, says that we’re in recession.”

Finally, Maloney examines delinquencies on all commercial and industrial loans and leases at all commercial banks. The numbers are rising, also flashing recession:

What we see here is a cycle based around the recessions, and we’re headed up once again.”

The data appears to indicate Peter and Maloney are both right. We may well already be in the throes of a recession.

Get Peter Schiff’s most important Gold headlines once per week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning more about physical gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

Peter Schiff and Jim Rickards: $15,000 Gold?

Gold pushed above its all-time record price last week. Where does it go from here? Peter Schiff and Jim Rickards appeared on Kitco News to talk about gold’s trajectory and the possibility of $15,000 gold in the future. Peter opened up the interview saying he’s surprised it took gold this long to break its record. […]

READ MORE →

Peter Schiff: The Dollar Is Not Just Going Down; It’s Going to Crash

As gold was closing in on its all-time record price last week, Peter Schiff appeared on the Claman Countdown and warned about the looming dollar crisis. Claman set up the interview pointing out that Peter predicted this big move up in gold months ago and asked, “What’s your new prediction about the dollar?”

READ MORE →

Peter Schiff and Anthony Pompliano Talk Gold and Bitcoin (Video)

Peter Schiff did a live show with Anthony Pompliano on Sunday to talk about gold, silver, bitcoin and crypto. Known as “Pomp,” Pompliano is co-founder and partner at Morgan Creek Digital, “a multi-strategy investment firm focused on providing access to blockchain technology and digital assets.” At the time of the recording, gold had just broken […]

READ MORE →

Jim Grant: Confidently Bullish on Gold and Silver

Jim Grant has long been skeptical of the mechanization of the Federal Reserve. He was warning about the distortions created in the markets and broader economy caused by the central bank’s monetary policy long before the monetary Hail Mary it threw up in response to the coronavirus pandemic. Last month, Grant wrote an op-ed for […]

READ MORE →

Peter Schiff and Johnny Bravo: The End of the Dollar Standard

Peter Schiff recently did an interview with Johnny Bravo. They talked about the gold standard, inflation, the looming dollar crisis, presidential politics, and the foolishness of Modern monetary theory. Johnny opened up the show declaring that governments will never allow a gold standard. They hate gold. He asked Peter, why?

READ MORE →

One thought on “Mike Maloney: Data Screams “Recession Is Here!” (Video)

  1. ron herron says:

    look at venezuela–this is where we’re headed–Bernie land

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Call Now